Partner Article

Teesside investment backed by FSB

The FSB in the North East has backed the government’s support for Teesside, following the announcement that Corus would cut 1,700 jobs at its Redcar plant.

£60m of investment has been pledged to the North East in aid of the region’s move to low carbon and advance manufacturing.

The package is set to create an estimated 3,000 new jobs and sustain thousands more in the longer term.

Martin McTague, North East Policy Chairman, for the FSB, said: “This investment will hopefully help Teesside exploit the potential that low carbon technologies bring and help the recovery of the economy.

“It is important that the investment helps support the fantastic local workforce that has been affected by the announcement.”

A spokesperson for the government has said the new package will be structured in two parts.

The initial step will aim to address the issues arising from the Corus fallout, including £10m for apprenticeships and support for people to start businesses and up to £20m investment in the Wilton International site.

An additional £30m will help Teesside to move beyond traditional heavy industry to realise its potential to be part of a low carbon manufacturing base.

Lord Mandelson added: “We must act to secure long-term employment in sustainable manufacturing in the region.

“Teesside has the skills, the workforce and the infrastructure to compete in future advanced low carbon manufacturing. We’re acting to ensure they have the best support to succeed.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .